Category: Taxes

“The Supreme Court announced Friday that it will hear the most serious challenge to the Affordable Care Act since the justices found it constitutional more than two years ago: a lawsuit targeting the federal subsidies that help millions of Americans buy health insurance.
More than 4 million people receive the subsidies, which the Obama administration contends are essential to the act by making insurance more affordable for low- and middle-income families.”

“This hasn’t exactly been a banner week for Democrats, but especially so for Barack Obama. The Washington Post corrected him twice this week on claims made by the President’s denial of reality in his post-election press conference, the first time in a formal fact-check from Glenn Kessler. Obama tried arguing that the election results didn’t really reflect on ObamaCare despite the success of Republicans in defeating Democrats who supported it — or even those who refused to answer the question — because ObamaCare has reduced the costs of health care in every year since its passage. That assumes facts not in evidence in terms of causal relationship, Kessler notes, and isn’t true on the facts anyway:
In fact, despite the president’s claim of a decrease of every year, the White House’s own chart shows that the 2013 estimate represents a slight uptick from 2012, when adjusted for inflation and population. As the White House report puts it, “the three years since 2010 will have recorded the three slowest health-care spending growth rates since record keeping began in 1960.” That is impressive, but it is not the same as health costs going down “every single year” since the law was passed in 2010. …”

“Tuesday’s Republican victories in the U.S. Senate are inspiring strong optimism among medical device companies in Minnesota and nationwide for a repeal of the 2.3 percent tax on their products.
But repealing the unpopular medical-device tax will not be easy, even with Republican majorities in the House and Senate. Any stand-alone device-tax bill would face a likely veto threat by President Barack Obama, which means repeal is more likely to be a part of a broader bill reforming business taxes or the Affordable Care Act.”

“Sen. Mitch McConnell (R-Ky.) is planning to make ObamaCare a priority in his first weeks as leader of the Senate, vowing a sustained effort to dismantle the law piece-by-piece.
McConnell said the GOP will tackle unpopular aspects of the law such as the individual mandate, the medical device tax and the 30-hour workweek requiring employers to provide insurance.”

“Tuesday’s re-election of Republican governors in closely contested races in Florida, Georgia, Wisconsin, Maine and Kansas dims the chances of Medicaid expansion in those states.
Advocates hoping for Democratic victories in those states were disappointed by the outcomes, but Alaska, which also has a Republican incumbent, remains in play as an independent challenger holds a narrow lead going into a count of absentee ballots.”

“Republicans took control of the Senate and made gains in the GOP-controlled House on Tuesday. “This is a chance to begin to save this country,” declared probable Senator Majority Leader Mitch McConnell on Election Day.
Now it’s time to find out if he means it.
Americans just repudiated the colossal disaster that is Barack Obama. At the center of his failed presidency — Obamacare.”

“Fox News’ Megyn Kelly grilled House Majority Leader Kevin McCarthy, R-Calif., about whether a Republican-controlled Congress would seek to repeal Obamacare.
After repeated questions from Kelly, McCarthy said, “I would press for [a vote to repeal Obamacare] when we have ability to replace it at the same time.””

“President Reagan gauged the success of a welfare program by how quickly people were able to move off government assistance and into remunerative work. Yet President Obama, the White House, and their allies are measuring the success of Obamacare by how many people can be enrolled in their new government entitlement programs.
The president celebrated the law’s “success” in getting seven million people enrolled in Medicaid and eight million (or so) people enrolled in exchange coverage, 87 percent of whom are receiving government subsidies for their insurance. And he hopes to lure another five million people onto Obamacare programs starting with the November 15 enrollment period. There is no expectation that participation in these government programs will be a temporary boost but rather that they will become a permanent fixture in people’s lives.”

“Tuesday’s re-election of Republican governors in closely contested races in Florida, Georgia, Wisconsin, Maine and Kansas dims the chances of Medicaid expansion in those states.
Advocates hoping for Democratic victories in those states were disappointed by the outcomes, but Alaska, which also has a Republican incumbent, remains in play as an independent challenger holds a narrow lead going into a count of absentee ballots.
“No one would say it was a good night for the prospects of Medicaid expansion,” said Joan Alker, executive director of the Center for Children and Families at Georgetown University.”

“Right now, the U.S. Supreme Court is deciding whether to hear a case that could have devastating implications for Obamacare and hundreds of thousands of people currently receiving health insurance through its exchanges.
The case, King v. Burwell, is one of several challenges based on language in the Affordable Care Act that authorizes the government to offer subsidies to people who enroll in policies sold on the health exchanges. The subsidies were introduced to make health care coverage more affordable, but the lawsuits charge that the wording of the Affordable Care Act doesn’t allow for federal subsidies.”